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Cluster Protocol Secures Seed & Strategic Investment to Bring Decentralized AI Agents to the World

[21 Dec 2024, Dubai] – Cluster Protocol , a forward-thinking player in the decentralized AI space, is thrilled to announce that it has successfully secured seed and strategic investment funding. Led by Pivot Ventures , with participation from Maven Capital , Mapleblock , and a host of seasoned angel investors such as Ryan Horn (Binance), Tal Cohen (Kraken), Sanders Gortjes (Hello Labs), Jeff Nowak (Maven Capital), Amit Patel (Fusion 7), Nelson Paul (Tezos), Marcello Mari (SingularityDAO), Vijay Praveen (BitsCrunch), Ashish Sood (Polytrade), Tomer Nuni (Kima Network), Vijay Garg (Mapleblock), Sundeep Krishna (Trustswap), Anshul Dhir (Pivot), and more, this funding marks an important step toward creating a more accessible, open, and collaborative AI future. Breaking Down Barriers in AI Cluster Protocol’s vision goes beyond simply building another AI platform. It’s about empowering everyone, technical or not, to participate in the evolution of AI. By streamlining the creation, training, and execution of AI agents, the platform erases complexity and gives a wider range of people the tools they need to get involved. What Makes Cluster Protocol Different? Privacy & Security First: Using advanced techniques like Fully Homomorphic Encryption and Federated Learning, Cluster Protocol protects sensitive data while still making it useful. This ensures that data privacy remains a top priority, even as the platform encourages global collaboration. Truly Decentralized AI: Instead of keeping all resources in one place, Cluster Protocol relies on a decentralized network of datasets and computational resources. This approach makes high-quality, industrial-grade compute power accessible to everyone, not just big players. Fair & Transparent Access to Compute: A unique “Proof of Aggregated Compute” mechanism keeps the system honest and efficient. This ensures GPU providers can offer their resources at competitive rates while users can trust the process every step of the way. Simple Agent Creation: With its “Cluster Agents Arena,” the platform offers a virtual sandbox where anyone can quickly build, test, and launch AI agents. This lowers the barrier to entry and helps spark creativity. A Vision for Growth and Collaboration “Our platform is designed to make building and hosting AI agents straightforward,” said Yatharth Jain ( https://x.com/depindaddy ), Co-Founder of Cluster Protocol . “We bring together compute power from all over the world at unbeatable prices, providing a foundation of integrity and openness that’s crucial for decentralized networks.” “Under the leadership of young and hardworking builders like Prateek and Yatharth, Cluster Protocol is poised to redefine decentralized AI.” said Anshul Dhir ( https://www.linkedin.com/in/anshuldhirr/ ) from Pivot Ventures. In addition to Nelson Paul ( https://www.linkedin.com/in/nelsonpaul005/ )from Tezos who quoted “ Tomorrow’s AI solutions demand a seamless, comprehensive build station and Cluster Protocol is delivering just that. By creating a Boeing-like assembly line for AI development, they’re streamlining the entire process, enabling users to effortlessly build and deploy cutting-edge AI agents. We’re excited to support them on this ambitious journey. ” With this new funding, Cluster Protocol will focus on: Attracting Top Talent: Bringing on board world-class AI researchers and blockchain engineers to refine and expand the platform. Accelerating Decentralized Solutions: Advancing decentralized AI capabilities to meet growing demand. Open-Source Evolution: Embracing open-source principles to ensure that Cluster Protocol remains flexible, community-driven, and transparent. About Cluster Protocol Think of Cluster Protocol as the glue that holds the decentralized AI ecosystem together. It helps AI developers get paid for their contributions while giving end-users a smooth, frictionless way to build the next generation of AI applications and agents. By focusing on openness, accessibility, and innovation, Cluster Protocol aims to power a future where AI is truly for everyone. For more information, please visit https://www.clusterprotocol.ai/ The Crypto Basic

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U.S. Spot Bitcoin ETFs See $277.08M in Outflows Amid Market Uncertainty

U.S. spot Bitcoin exchange-traded funds (ETFs) faced significant outflows on December 20, 2024, with a combined net outflow of $277.08 million, according to data shared by Trader T on X (formerly Twitter). This marks the second consecutive day of declines for Bitcoin ETFs, reflecting potential concerns about market sentiment or profit-taking among investors. The majority of outflows were attributed to prominent funds, including ARK Invest’s ARKB, BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC. While most ETFs faced net losses, Grayscale Mini BTC and Franklin’s EZBC bucked the trend with modest inflows. Breakdown of ETF Outflows Major ETFs Affected ARK Invest’s ARKB : $87.01 million in net outflows, representing the largest single loss. BlackRock’s IBIT : $72.84 million in outflows, a significant figure for the world’s largest asset manager. Fidelity’s FBTC: $71.89 million in outflows, continuing a challenging period for Bitcoin ETFs. Grayscale’s GBTC : $57.36 million in outflows, despite being one of the earliest Bitcoin-focused funds. ETFs with Net Inflows Grayscale Mini BTC (MBTC): Recorded $6.41 million in inflows, suggesting investor interest in smaller-cap ETFs. Franklin’s EZBC: Gained $5.61 million, likely benefiting from diversification strategies. Market Context: Why the Outflows? The significant outflows could be driven by several factors: 1. Profit-Taking by Investors With Bitcoin’s price stabilizing above $100,000 in recent months, investors may be locking in profits, leading to reduced exposure in ETFs. 2. Year-End Portfolio Adjustments The December timing aligns with traditional portfolio rebalancing by institutional investors, who may be reallocating funds to meet year-end financial goals. 3. Macro and Regulatory Concerns Ongoing regulatory developments and global economic uncertainty could be influencing risk-averse behavior, particularly in volatile assets like Bitcoin. Impact on Bitcoin Market Sentiment The ETF outflows highlight shifting market dynamics: Short-Term Concerns Price Volatility: Declining interest in ETFs could contribute to short-term price fluctuations for Bitcoin. Weakened Sentiment: Consecutive days of outflows suggest cautious investor behavior. Long-Term Outlook Despite the outflows, the broader demand for Bitcoin remains robust, with institutional interest still driving adoption in key markets. Spot Bitcoin ETFs: A Snapshot What Are Spot Bitcoin ETFs? Spot Bitcoin ETFs allow investors to gain exposure to Bitcoin’s price movements without directly holding the asset. Unlike futures-based ETFs, spot ETFs track the actual Bitcoin price, making them a preferred option for many institutional and retail investors. Importance in the Market Accessibility: Provides a gateway for traditional investors to access Bitcoin. Liquidity: Increases market liquidity by aggregating institutional investments. Regulatory Milestones: Spot ETFs represent significant progress in the mainstream acceptance of cryptocurrencies. Comparison: ETFs with Inflows vs. Outflows ETF Name Net Flow ($M) Trend ARK Invest (ARKB) -87.01 Outflow BlackRock (IBIT) -72.84 Outflow Fidelity (FBTC) -71.89 Outflow Grayscale (GBTC) -57.36 Outflow Grayscale Mini BTC +6.41 Inflow Franklin EZBC +5.61 Inflow Implications for Investors What to Watch For Market Trends: Monitor whether outflows continue or reverse in the coming days, particularly as year-end approaches. ETF Performance: Pay attention to funds like Grayscale Mini BTC and Franklin EZBC, which may attract investors seeking alternatives. Bitcoin Price: Watch for potential impacts on Bitcoin’s price from sustained outflows, as ETF activity often reflects broader sentiment. Diversification is Key Investors should consider diversifying across different funds and asset classes to mitigate risks associated with short-term market shifts. Conclusion The $277.08 million outflows from U.S. spot Bitcoin ETFs on December 20 signal a period of cautious sentiment among investors. While major funds like ARK Invest, BlackRock, and Fidelity recorded significant losses, smaller funds like Grayscale Mini BTC and Franklin EZBC saw modest inflows, reflecting varying investor strategies. As the market adjusts to these dynamics, investors and analysts will closely monitor the broader implications for Bitcoin and ETF markets. Whether these outflows mark a temporary shift or a larger trend remains to be seen. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries. The Crypto Basic